Background

Nigeria is one of the largest advertising markets in Africa, and outdoor advertising through billboards, vehicle signs, and other means is one of the oldest and most visible forms of advertising. In 2018, outdoor advertising accounted for 28% of total media spend in Nigeria, behind only TV advertising. Despite its wide use, the effectiveness of outdoor advertising has always been more difficult to measure than that of TV and radio, which can be measured through viewership statistics, or online ads, which directly track clicks and conversions. The number of people who see an outdoor ad, how they engage with it, and if they take an action because of the ad later are all metrics that are important but difficult to track for outdoor advertising.

With these factors in mind, the Outdoor Advertising Association of Nigeria worked with GeoPoll to assess the effectiveness of outdoor advertising or out of home (OOH). The study focused on key cities within Nigeria, and examined time spent outdoors being exposed to advertising, the most visible forms of outdoor advertising, and what actions are taken after seeing an OOH ad.

Methodology

This study was run by a mobile web link in February 2020, with 1000 respondents located in Lagos, Abuja, and Rivers. Respondents were randomly targeted from the GeoPoll database, a database of mobile subscribers throughout Nigeria.

Results

Out of Home Activities and Advertising Awareness

It was found that walking and public transportation are the most common forms of transportation in all three locations studied. Generally, people spend two hours a day outside their homes commuting, and we found that vehicle travel goes down on the weekends, while time spent walking increases on the weekend compared to the weekday. The study also found that awareness of billboards is high, with 79% claiming that they had noticed a billboard in the past 7 days, and 63% stating that when they see a billboard they notice the brand or message being communicated ‘all of the time.’

When examining forms of OOH advertising, static billboards emerged as the most visible format, with over 80% of respondents saying they notice billboard advertisements. This was followed by wrapped buses, taxis, and other vehicles in all cities. Wrapped ads were particularly noticeable in Lagos and Abuja.

Out of Home Advertising Effectiveness

The study also looked at the effectiveness of outdoor advertising when compared to other advertising channels including radio, TV, and online. Across all channels, the most common action following ad exposure is searching for more information online; While 74% said they do this for radio, OOH came in second in this metric at 69%. Activations were also analyzed against spend and reach for each channel, and it was found that while the low spend and high reach of radio drives high effectiveness overall, the fragmented nature of radio audiences makes it difficult to capture wider audiences with one campaign. Meanwhile, it was found that OOH is more effective than both TV and online advertising in most measures, including downloading an app, buying the brand mentioned, and recommending the brand to a friend.

Impact

This study demonstrates the high efficacy of OOH advertisements at triggering a consumer response, and finds that overall OOH is the second most effective medium, following radio. Interestingly, OOH is found to be more effective than online advertising, although this medium is expected to continue to grow over time. The Outdoor Advertising Association of Nigeria will use this data to educate the advertising industry on the continued importance of OOH advertising, even as digital channels continue to arise. By using concrete statistics on the awareness and impact of OOH ads when compared to other advertising channels, brands can make more informed decisions on where to invest their ad spend in Nigeria. This reaffirms OAAN’s commitment to proving the value OOH brings into the media mix and dispel the notion that online advertising is a more efficient advertising method.Key Points:

Get GeoPoll’s 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Background

Kenya has been at the forefront of providing digital financial services for over a decade. The proliferation of mobile-based banking and lending platforms has provided unbanked populations with access to financial services and increased financial inclusion by over 50%. Digital lending, which provides people with easy access to loans of various amounts, has been especially popular, and there are now an over 120 digital lending platforms in Kenya. Despite this, until recently the sector had been largely unregulated, and there was little data available on who is taking out loans and how they are being used.

The Digital Lenders Association of Kenya (DLAK) is a new member organization incorporated in 2019 bringing together the leading digital-first loan providers and associated stakeholders to facilitate mutual growth in the digital lending sector in Kenya.
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The main objective of the organization is to set ethical and professional standards in the industry, to collaborate with policy makers and other stakeholders in addressing industry issues, contribute to knowledge and learning and to drive the overall growth of the digital lending and Fintech sector in line with the Economic Pillar of the Vision 2030, MTP III and the Big Four Agenda.

The Digital Lenders Association of Kenya commissioned GeoPoll to conduct a study which aims to better understand the audiences and motivations for digital lending.

Methodology

The study was conducted via SMS in December 2019, with over 4,000 who answered the initial questions and 1,000 respondents who completed the study after indicating they had taken out a digital loan in the past 6 months. There was a 50/50 gender split, and a 70/30 urban-rural split. Respondents were 18+ and located throughout Kenya.

Results

The study found that 71% of over 4,000 total respondents reached had taken out a mobile loan in the past 6 months. While males and females were equally likely to have taken out a loan, those aged 36 and older and those in rural areas were less likely to have taken out a loan than younger, urban populations.

Highlights of the findings include:

• Of those who had taken out a mobile loan, satisfaction levels were reported as high, with 83% saying they were highly satisfied with their mobile lending experience
• Of those who had taken out a mobile loan, satisfaction levels were reported as high, with 83% saying they were highly satisfied with their mobile lending experience
• 88% said they would consider taking another loan out in the future.
• The majority of those taking out loans are doing so for personal use, with 66.5% stating they have taken out personal loans, and 33.5% using loans for business.
• The reasons for taking a personal loan are varied, but 41% used the loan for household expenses or bills, while 23% cited emergency expenses and 20% medical expenses.
• Business loans were primarily used to purchase goods, with 53% of business loans being for goods purchase, and 19% for emergency expenses.
• 84% of those who took business loans stated that there was a growth in their business due to the loan, and 45% said that they would not have another credit option if not for the mobile loan.

The study also demonstrated that consumers are drawn to the convenience of mobile-based lending: Getting loans any time of the day, having loans be approved without paperwork, and receiving money quickly were the most important features to users of mobile or web loans.

The infographic with results can be found here: DLAK Infographic.

Impact

By using a mobile methodology, DLAK was able to quickly reach respondents throughout Kenya who use digital loans to better understand their experiences. This study will be used by DLAK and the digital lending sector to further grow their services in line with the needs and desires of Kenyans taking out loans. “The digital lending sector has grown exponentially in the past few years, and this study demonstrates the universal appeal of fast, easy to access digital loans for a multitude of purposes,” stated Robert Masinde, Chairman DLAK.Key Points:

Get GeoPoll’s 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